How woke is Ameriprise?

Introduction

Ameriprise Financial, a well-known player in wealth management, seems to be leaning heavily into the “woke” landscape. From hefty donations to social justice causes to DEI and LGBTQ+ initiatives, the company’s priorities go well beyond typical financial stewardship. 

While Ameriprise’s website highlights its community impact and dedication to “equity,” these moves don’t exactly scream neutrality. This review dives deep into how Ameriprise’s choices in DEI, social contributions, and branding reflect progressive social ideologies and where they might stray from traditional values.

Financial Contributions to Progressive Causes

Ameriprise has taken a strong stance with its philanthropic efforts, directing a significant portion of donations to causes rooted in social justice. In 2023 alone, the company and its advisors donated a whopping $16.5 million. A good chunk of this went to nonprofits pushing for “community, equity, and justice initiatives”—clear signals of a progressive agenda. 

According to Ameriprise, “Many contributions were directed toward organizations that support community, equity, and justice initiatives, reflecting our commitment to making a meaningful impact in society.”

Ameriprise even has a dedicated grant-making program supporting nonprofits tackling racial equity and environmental justice—two keywords often intertwined with today’s political and social movements. While these may resonate with woke-friendly customers, they raise a question for traditional investors: Shouldn’t a financial firm focus more on sound investments than fueling activist causes?

Prioritization of DEI Policies

Ameriprise has put DEI front and center, emphasizing diversity, equity, and inclusion throughout its hiring and operational practices. On its DEI webpage, Ameriprise states, “We are committed to creating a diverse and inclusive workplace. Our DEI initiatives are designed to foster diversity and measure and achieve it actively.” 

This goal is echoed in the company’s 2024 Responsible Business Report, which highlights how they aim to measure DEI achievements and representation at all levels. In practice, DEI-focused policies often tip the scales away from meritocracy. When companies prioritize representation benchmarks over qualifications, the impact on talent and morale can be mixed. 

For Ameriprise, the emphasis on diversity and representation seems less about equal opportunity and more about ticking DEI boxes. Are these quotas and measurements meant to benefit the company’s bottom line, or are they another checkbox in the corporate “woke” handbook?

Mandatory Training Sessions

No direct information was found on mandatory training at Ameriprise, but companies with a DEI focus often include sessions on unconscious bias and anti-racism. These sessions are usually anchored in Critical Race Theory (CRT) and implicit bias—concepts that can veer into ideological territory, pressuring employees to adopt certain viewpoints. 

Support for LGBTQ+ Initiatives

Ameriprise doesn’t hold back when it comes to LGBTQ+ support. The company enthusiastically celebrates Pride Month, hosting events like “Pride Parade Parties” and other community gatherings with a clear stance on inclusivity. They proudly note, “Ameriprise advisors and teams across the country actively support Pride celebrations, highlighting our commitment to promoting diversity, equity, and inclusivity.”

Further cementing its progressive tilt, Ameriprise has been recognized by the Human Rights Campaign (HRC) for 11 consecutive years as a “Best Place to Work” for LGBTQ+ equality. While this level of support resonates well with socially progressive clients, it does raise some eyebrows among traditional-minded investors. Could Ameriprise’s support have turned into virtue signaling rather than balanced inclusivity?

Marketing and Branding

Ameriprise’s recent marketing campaigns reflect a distinct shift toward “values-driven” branding. The 2023 ads focus on helping clients navigate today’s “uncertain world,” often with messages that connect financial resilience to social responsibility. The campaigns highlight the company’s role as a steady hand in “delivering not only financial advice but peace of mind and resilience.”

Ameriprise also provides advisors with marketing resources that include diversity and inclusion guidelines, ensuring advisors are in lockstep with the brand’s DEI messaging. This purpose-driven branding resonates with today’s social narratives but might come across as pandering to those who value straightforward financial guidance over a social justice pitch. 

Conclusion

Ameriprise Financial has woven social activism into its brand fabric, from DEI policies and LGBTQ+ celebrations to social justice-driven donations. Ameriprise’s commitment might be appealing for consumers and investors who resonate with these principles. 

But this shift might be off-putting for those seeking apolitical financial services. Ameriprise is no longer just a wealth management company; it’s a brand with a social agenda, and for many traditional clients, that’s a departure from what they signed up for.